Levin Zhu, son of former Chinese premier Zhu Rongji, tells the Boao Forum that finance still needs the human touch and that technology will not lead to its extinction.

Technological development will not lead to the extinction of finance because it can't replace human-to-human communication in financial services, according to Levin Zhu, former chief executive of China International Capital Corporation.

“If you want to manage people’s wealth, you have to talk to them about their needs...You can of course send an email to everyone in the world in one second but many things cannot be easily solved through an email. It requires a...